Originally Posted by maridegu
u associated acumen with semen!, You truly have a sharp tongue.... Harsh, but true...
Amith is right.
GST is not what Modi claims it is. It is good first step for Today. It needs more tinkering. We'll need to applaud Modi for getting to this point.
Next steps are to cut down babudom & compliance costs.
Worry about Modi is he's not cutting down Govt role, but increasing it.
When you had a clerk sitting at Delhi ordering how many scooters Bajaj has to produce, We had black market, Black money, Tax Avoidance, low-quality Goods & Black Economy.
When Bajaj, Nokia, Micromax, can all produce goods as much as there's Demand, there will be less of black market, Black money, Tax Avoidance, low-quality Goods & Black Economy.
GST is increasing the number of forms & processes.
Many stuff are yet to be decided.
When Tax structure is unclear, Technology can't help much.
Case of blinding your eyes & going for treasure hunt.
There's scope for amendments...
By the way 28% is a huge figure worthy of being stolen and tax evaded. The higher the tax will be .. more fruitful will be the risk to evade it.
A local production house manufacturers a product for 1 lac. Before it was taxed only 13.5% out of which 6% was excise which was not refunded (not everone has liscence for that) and only remaining was sole tax to state. Now its 28% .. that means 28000 for every 1 lac. More beneficial to evade tax .. pay thick bribe and still be at highest profit.